CONTEXTLOGIC 24 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuits Against ContextLogic Inc. - WISH

NEW ORLEANS, July 15, 2021

What You May Do

If you purchased securities of ContextLogic and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-wish/ to learn more. If you wish to serve as a lead plaintiff in the class actions, you must petition the Courts by July 16, 2021.

About the Lawsuits

ContextLogic and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws. On May 12, 2021, the Company announced its 1Q21 financial results for the interim period ended March 31, 2021, disclosing a decrease in monthly active users ("MAUs") of an additional 7% from the previous period to just 101 million and a decrease in forward sales guidance for 2Q21 of just $715 million to $730 million, coming in significantly less than the $759 million the market had been led to expect and far less than the guidance of $735 to $750 million provided for 1Q21. On this news, shares of ContextLogic plummeted 29%, or $3.36 per share, to close at $8.11 per share on May 13, 2021, on unusually high trading volume.

The first-filed case is Boehning v. ContextLogic Inc., No. 21-cv-03671.